Tuesday, May 2, 2017

Greece agrees to sell coal-fired plants, mines - govt source - REUTERS

Tue May 2, 2017 7:07am GMTReporting by Angeliki Koutantou Editing by Jeremy Gaunt

ATHENS May 2 (Reuters) - Greece agreed with its lenders to sell coal-fired plants and coal mines equal to about 40 percent of its dominant power utility Public Power Corp's capacity, a government source said on Tuesday.

The agreement is part of a reform deal Greece and its foreign creditors reached early on Tuesday, paving the way for the disbursement of further rescue funds under the country's third international bailout.
Greece will hold a market test to sound out investors interested in buying coal-fired plants and mines owned by Public Power by November, aiming to wrap up the sale by June 2018, a government official told Reuters on condition of anonymity.

PPC is 51 percent-owned by the state.

The lenders and Greece also agreed that Athens will relaunch the sale of a 66 percent stake in its natural gas grid operator DESFA and conclude it by the end of the year.